TSX composite up 200 points, U.S. markets rise [Video]

TORONTO –

Canada’s main stock index gained almost 200 points Wednesday on broad-based strength led by base metals and industrials, while U.S. markets also rose.

The S&P/TSX composite index closed up 194.56 points at 22,107.08.

In the middle of a quiet week for North American markets, the TSX is being pushed higher by “old economy” sectors like industrials, materials and financials, said Jules Boudreau, senior economist at Mackenzie Investment.

Gold has been enjoying a nice run, he added, propped up by buying from institutional investors and central banks, especially the People’s Bank of China. 

In New York, the Dow Jones industrial average was up 477.75 points at 39,760.08. The S&P 500 index was up 44.91 points at 5,248.49, while the Nasdaq composite was up 83.82 points at 16,399.52.

Markets continue to perform highly on good news days, but in the absence of news, “it seems like there’s a little bit more resistance,” …